9.1 GW of Tenders Issued and 4 GW of Solar Projects Auctioned in Q2 2022
Punjab State Power Corporation accounted for 21% of the tenders announced in the quarter
Various government agencies floated solar tenders totaling approximately 9.13 GW in the second quarter (Q2) of the calendar year (CY) 2022, an increase of 80% compared to the previous quarter, according to Mercom India Research.
Tender announcements were up by 8% year-over-year (YoY) compared to the same period last year.
Auctions were held for almost 4 GW of solar projects in Q2 2022, a 54% increase compared to Q1 2022. Auction activity increased by a massive 788% compared to the same period last year.
With the implementation of the Basic Customs Duty (BCD) and the Approved List of Models and Manufacturers (ALMM), stakeholders have gained clarity.
Top agencies issuing tenders
Punjab State Power Corporation made up for 21% of the tenders announced in Q2 2022 with a mix of development and power purchase projects. Madhya Pradesh Urja Vidyut Nigam accounted for 13% of tenders in the quarter, followed by NTPC with 11%. Hindustan Salts floated 10% of the total tenders while other government agencies accounted for the remaining 45%.
Major tenders floated in Q2 2022
Punjab State Power Corporation issued a request for selection to select bidders to procure power from 1 GW of grid-connected solar projects through a long-term tariff-based competitive bidding process.
Hindustan Salts invited bids to develop 1 GW of solar projects at Kharaghoda in the Surendranagar district of Gujarat. The power generated from the projects will be sold in the market. The revenue generated will be shared with Hindustan Salts as fixed annual charges for utilizing the company’s 5,000 acres of land.
Rewa Ultra Mega Solar Limited (RUMSL), on behalf of Madhya Pradesh Power Management Company, issued a request for proposal to develop 750 MW grid-connected wind-solar hybrid power projects in Madhya Pradesh.
NTPC invited bids to develop interstate transmission system (ISTS)-connected wind-solar hybrid projects of capacity up to 600 MW anywhere in India. NTPC will develop the hybrid power projects through its wholly-owned subsidiary NTPC Renewable Energy Limited.
Gujarat Urja Vikas Nigam issued a request for selection from developers to purchase power from 500 MW of solar projects under Phase XIV with a greenshoe option of an additional capacity of up to 500 MW.
Maharashtra State Electricity Distribution Company invited bids to procure power from 500 MW of intrastate grid-connected solar power projects (Phase-VII) on a long-term basis.
Important auctions in Q2 2022
Tata Power, Amp Energy, NTPC, and SJVN were declared winners in SECI’s auction to set up 1,200 MW ISTS-connected wind-solar hybrid projects (Tranche-V) across India.
NHPC awarded engineering procurement and construction contracts worth ₹66.04 billion (~$851.72 million) to develop 1 GW of grid-connected solar projects. The contracts were awarded to the three bidders, including Adani Infra (India), Tata Power Solar Systems, and a joint venture of Shirdi Sai Electricals and ASR.
SJVN awarded the EPC contract for its 1 GW solar project in Bikaner, Rajasthan, to Tata Power Solar Systems. The project will be developed at an estimated cost of ₹54.91 billion (~$72.21 million), making it India’s biggest solar EPC contract.
Amp Energy, NHDC, and SJVN were declared winners in RUMSL’s auction for the 600 MW floating solar park at the Omkareshwar reservoir in Madhya Pradesh.
Aditya Birla, Hinduja Renewables Energy, and SJVN were winners in GUVNL’s auction to develop 500 MW of solar projects under Phase XIV with a greenshoe option of an additional capacity of up to 500 MW (Tranche-XIV).
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